The HFA Preferred program offers up to 6% of the loan amount towards your down payment in any Arizona county except for Pima. Income limitations and debt ratio limitations apply. You do not need to be a First-Time Homebuyer but must meet minimum FICO score and conventional guideline requirements. Maximum purchase price cannot exceed $371,936.
The HFA has created this program for individuals or families that want down payment assistance but can qualify for a conventional mortgage. The 0-5% assistance is a grant that is combined with a minimum 3% down first loan on a 30 year fixed rate mortgage. Financing for these loans are available on new or existing homes, condos, or townhouses.